Qualification shares, Business Law and Ethics

Assignment Help:

Qualification Shares:

S.183(1) provides that it shall be the duty of every director who is by the articles of the company required to hold a specified qualification, and who is not already qualified, to obtain his qualification within two months after his appointment, or within the shorter time (if any) fixed by the articles.

Subsection (3) further provides that if the director fails to obtain his share qualification, or ceases to hold the required number of shares, he shall vacate his office. If he does not actually do so but continues to act as director he becomes a de facto director : Rv Ivan Arthur Camps (67).

2. S.186 : Age Limit

S.186 provides that no person shall be capable of being appointed a director of a public company or a private company which is a subsidiary of a public company if at the time of his appointment-

a) He has not attained the age of twenty-one; or

b) b) he has attained the age of seventy.


Related Discussions:- Qualification shares

Business Law and Ethics, A Black Firefighter alleges that each time he is t...

A Black Firefighter alleges that each time he is transferred from one fire station to another, he must take his bed with him, on orders of the fire chief. The chief defends on the

Companys debts, Companys debts: In case a company is unable to pay its...

Companys debts: In case a company is unable to pay its debts the creditors, or a creditor, may petition the High Court for an order to wind it up. During the winding up the me

What is the meaning of potential harmonization, What is the meaning of pote...

What is the meaning of potential harmonization On reviewing the literature on coordination, convergence, and potential harmonization of antitrust laws, we discover several dif

Effect of registration, Effect of Registration: S.16(2) of the Act pro...

Effect of Registration: S.16(2) of the Act provides that "from the date of incorporation mentioned in the certificate of incorporation the subscribers to the memorandum of a

Communication law, As a soon-to-be media practitioner, you will encounter m...

As a soon-to-be media practitioner, you will encounter many legal issues in the media industry. In this assignment, you are required to examine one main legal issue that media prac

Foundations of law, Mr. D is a professional basketball player who orders so...

Mr. D is a professional basketball player who orders some shoes through the mail. The mail order house promises all customers delivery within 30 days of receiving the order. Mr. D'

Explain unhcr, Explain UNHCR UNHCR provides protection and assistance n...

Explain UNHCR UNHCR provides protection and assistance not only to refugees, but also to other categories of displaced or needy people. These include asylum seekers, refugees w

purchaser claims, You and a friend form a corporation (Company) together s...

You and a friend form a corporation (Company) together selling refurbished handbags.  Your responsibilities are to decide sales and your friend's, Patty, is to manage operations an

Explain the important provisions of the un charter, Explain the important ...

Explain the important provisions of the UN charter Some important provisions of the UN charter are the Article 92, which makes the ICJ an integral part of the UN charter, Artic

Implied powers, Implied Powers:                                     Th...

Implied Powers:                                     The statement of Lord Cairns in 1875 in Ashbury Rail Co Ltd v Riche (22) to the effect that a contract beyond the objects o

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd